The Milan Court of Appeals recently rejected an appeal against a Milan Court of First Instance judgment concerning an interest rate swap derivative contract. The complainant had asked the first-instance court for a statement of nullity regarding the contract, claiming that its purpose could not be determined and that no adequate risk exposure information had been provided. However, the first-instance court confirmed existing case law and excluded any reason for nullity of the contract.
The Criminal Court of Cassation recently confirmed a Milan Court of Appeal judgment which found that an employee who had emailed confidential data to a colleague who was not authorised to access said information had committed the crime of unauthorised access to a computer system under Article 615ter of the Criminal Code. The decision confirms that employers, as data controllers, must take appropriate security measures to ensure the integrity of information systems and data.